This is an interesting story from China’s People’s Daily Online. It’s a RECOMMENDED READ. Check it out!
via Gov’t debt audit to examine risks for sound economy – People’s Daily Online.
For me, the article highlights once again the decisiveness of China’s Central Government. It’s also signals mature judgement in both listening to the IMF and turning to the auditors.
Sadly, many Western Governments, and the European Parliament could learn a lesson or two here.
Perhaps, we need the IMF to take a close look at the finances of the European Parliament? Or just imagine if we had a bold UK Prime Minister who turned to the IMF over the economic viability of the NHS. It’s interesting that Angela Merkel was keen to use the IMF in Southern Europe but perhaps not too close to home!
- China orders audit of govt debt (gulfnews.com)